Collective Mining Ltd. provided an activity update on it’s Guayabales project (“Guayabales”) located in Caldas, Colombia. The project is situated contiguous and immediately along strike to the northwest from Aris Gold’s Marmato Gold Mine (“Marmato”), which contains Proven and Probable reserves of 2.0 million ounces gold and 4.35 million ounces silver (19.7 Mt grading 3.2 g/t gold and 6.9 g/t silver). The Company’s interpretation of the Guayabales project is that the precious metal mineralization encountered throughout the property is related to a series of copper-gold-molybdenum porphyry intrusions. It is also likely that these porphyry intrusions are at least partially responsible for the robust mineral endowment of the area (including Marmato). Importantly, Collective Mining is the first company to ever consolidate the prospective land package along strike to the northwest and adjacent to Marmato. Over the past nine months, the Company has rapidly advanced the project with intense geological mapping, soil and rock sampling programs and has completed and interpreted a high resolution, airborne geophysical survey. Work to date has highlighted a major NW-trending and mineralized structural corridor that incorporates both porphyry style copper-gold-molybdenum mineralization and associated high-grade gold-silver (base metal) vein systems. Guayabales is located immediately along strike, and at higher elevation, to the Marmato orebodies preserving vertically larger zones of the highly prospective Miocene intrusive related mineralized systems. Current surface exploration activity has covered less than 20% of the project area and has already identified four initial targets referred to as Donut, Tower, Olympus and Victory which are described as follows: The Donut target is part of a northwest trending and outcropping cluster of mineralized copper-gold-molybdenum porphyry intrusions. Shallow underground workings have exposed large zones of porphyry veining hosting various copper sulfides including chalcopyrite, chalcocite and lesser bornite with molybdenite and abundant pyrite. The Donut target displays intense zones of both potassic alteration and overprinting vein and stockwork systems. The porphyry zone is enveloped by a large scale (+1.5 km) and continuous anomalous zone of in-situ and coincidental gold, copper and molybdenum soil anomalism. Assay results are anticipated within the next 30 days from preliminary channel sampling program performed in existing underground workings and a maiden drill program is planned for September 2021. The Tower target, located in the western portion of the project area at the deformed contact between graphitic schists and diorite intrusives, incorporates a similar geological setting to the prominent Marmato gold-silver orebodies that are immediately to the south-east of this zone along strike. The north-south trending contact zone, recently exposed by a landslide, has exposed a 50 m x 50 m area of intense sericite-silica alteration with disseminated sulfides. This structure is exposed in old artisanal working located more than 1 kilometre to the NNW of the Tower outcrop. Detailed mapping and soil auger sampling of the entire target area is in progress to determine the dimensions of the target. Assays results from an extensive channel sampling campaign are expected within the next 30 days and will be followed shortly thereafter by a maiden drill program. The Olympus target hosts a large-scale sheeted vein and breccia, quartz-(carbonate) sulfide system, currently measuring over 400 metre true-width with an interpreted strike length of greater than 1 kilometre that trends to the Donut target. These late-stage porphyry-associated NW structures overprint a larger-scale porphyry style stockwork veinlet system within potassic altered quartz diorite porphyries and country rocks. Numerous artisanal workings have followed individual vein and breccia structures for +400 metres in strike length and reconnaissance grab samples have returned values of up to 72.4 g/t gold and 1,098 g/t silver. The exploration team is currently undertaking geological mapping and systematic soil and channel sampling in order to define the overall size of the target. A maiden drill program to test the Olympus target is anticipated to ensue in fourth quarter 2021. The Victory target is located in the north of the project area and consists of a stockwork of porphyry magnetite veinlets with disseminated sulfides hosted within altered diorite intrusive host-rocks. The large target area is outlined well by the airborne magnetics which illustrates a horseshoe shaped zone of high magnetic bodies enveloping a magnetic low. Multiple phases of altered and unaltered diorite intrusive were observed during reconnaissance fieldwork. Soil sampling mapping and rock channel sampling is in progress in this area with drilling planned for first quarter of 2022. Qualified Person (QP) and NI43-101 Disclosure: David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).